Silver CRASHING in early asian trading

[swissaustrian]

This happened in just a few minutes. It must have been one of the really big players in this market. In order to make such an impact you need tremendous amounts of money...

 

[Jay Tea]

I would guess a single party just dumped either some paper or physical silver. Most likely paper.

Yup. Someone big just decided to take a whole lot of profit. Personally, I'd say that whoever it is speaks Japanese.

 

[Dr.3D]

This happened in just a few minutes. It must have been one of the really big players in this market. In order to make such an impact you need tremendous amounts of money...

Ahhhhh, banks usually have money.

 

[cubical]

This happened in just a few minutes. It must have been one of the really big players in this market. In order to make such an impact you need tremendous amounts of money...

before any major market opened though. It will be interesting to see he price at midnight.

 

[Diurdi]

The dollar is "growing" because the basket of commodities that contribute to the dollar index are falling faster relative to the dollar.

Just wanted to point out that the Dollar index is measured relative to certain foreign currencies, not commodities.

 

[Michael P]

I might be a little pissed if there is a rebound before markets open in the US... there is a lot of movement in the dollar

 

[cubical]

Remember it did the same thing at the beginning of last week. It went from almost 50 down to 45 in a day.

 

[WilliamC]

What's the easiest and quickest way to buy on a Sunday?

No clue, but I'll be going to Mobile, AL tomorrow and they have a pretty good coin shop (let's see, ah here it is, Mobile Bay Coins on Government Blvd) that I've done business with in the past.

I'm thinking to take an extra grand or so with me and watch the prices whilst I'm there.

If they close below $40 I'll be sore tempted to buy.

 

[Dr.3D]

Just wanted to point out that the Dollar index is measured relative to foreign currencies, not commodities.

True, and it doesn't look like it has caused this.

 

[PeacePlan]

Wow it was down almost 11% - fun watching golds crazy little brother.

 

[Jay Tea]

No clue, but I'll be going to Mobile, AL tomorrow and they have a pretty good coin shop (let's see, ah here it is, Mobile Bay Coins on Government Blvd) that I've done business with in the past.

I'm thinking to take an extra grand or so with me and watch the prices whilst I'm there.

If they close below $40 I'll be sore tempted to buy.

I wonder if APMEX will change their prices tomorrow morning if this holds until then.

 

[tsai3904]

The retail sites (APMEX, GoldenEagleCoin, ProvidentMetals) price all their products in real time. Their prices right now will reflect what's going on in the electronic exchanges.

 

[WilliamC]

I wonder if APMEX will change their prices tomorrow morning if this holds until then.

I don't know how often they update their prices, but it would be worth a call if you're thinking of buying.

 

[jclay2]

Before choosing to sell, I would see how the market responds to the panic selling. Silver gained at least 75% of the last 10% decline after it hit $ 49.20 or so. Watch the reaction hear to determine if this move has any legs.

 

[cubical]

I just put some money in my Oanda account. Hopefully it arrives there by tomorrow morning. Oanda is great for paper silver trading. Free leverage.

 

[cubical]

Funny thing about this move is, 6 months ago I probably would have been pissed, not I am happy as I am more certain of the eventual outcome.

 

[Jordan]

Hyperdeflation?

 

[Michael P]

I wonder if APMEX will change their prices tomorrow morning if this holds until then.

They have already adjusted

 

[cubical]

Wow, I sent in my money to Oanda via paypal 30 minutes ago and it's already in my account. So go sign up at Oanda if you want to trade tonight.

 

[Jordan]

Wow, I sent in my money to Oanda via paypal 30 minutes ago and it's already in my account. So go sign up at Oanda if you want to trade tonight.

They have offices in open 24/7 somewhere around the world. Great broker if you don't need/want access to other markets.